Comcast Has Lost $520 Million on Peacock

The Tokyo Olympics has given a boost in surplus and revenue for Comcast’s NBCUniversal’s media business, Despite suffering huge losses by its streaming service “Peacock”.

Losses of $363 Million in the Second Quarter and $520 Million in the Next One

On Thursday, Comcast issued its earnings for the third quarter of this year and stated that they have lost a whopping amount of $520 million in the quarter on Peacock which is high from that of $233 million previous to this year.

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The revenue earned by Peacock was nearly $230 million, high from merely a revenue of $41 million earlier this year. Peacock had suffered a loss of $363 million over the revenue of $122 million in the second quarter this year.

Comcast

Rise in Revenue

The median earnings of NBCUniversal before interest, taxes, depreciation, and amortization increased by 1.2 percent to $997 million.

Revenue lifted from 47.9 percent to $6.77 billion. The media revenue lifted by 9.2 percent to $5.01 billion without taking into consideration the amount of $1.8 billion earned from the Olympics.

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The revenue from the advertisement increased by 73 percent, huge gratitude to the Olympics. The distribution earnings were boosted by 36.2 percent. Returning of its NBCUniversal theme parks online following it shut down previous to this year because of the coronavirus pandemic also resulted in a rise.

The theme parks had earnings of $434 million before interest, taxes, depreciation, and amortization, in comparison to the loss of $174 million in the last year.

So, to be precise, earnings before interest, taxes, depreciation, and amortization of NBCUniversal were boosted by 48.2 percent to $1.35 billion. Revenue boosted up by 57.9 percent to $10 billion.

As reported by Comcast, the net income of the third quarter is supposed to be approximately increased two times, from $2.02 billion in the last year to $4.04 billion or from 44 cents per share to 86 cents per share. Revenue increased by 18.7 percent to $30.3 billion. 

EBITDA from the Cable boosted by 10.3 percent to $7.07 billion. Revenue rose by 7.4 percent to $16.1 billion. The revenue from Broadband boosted by 11.6 percent to $5.8 billion, whereas video revenue increased by 1.4 percent to $5.5 billion. Nearly 408,000 video customers have been lost by the company.

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What Has Been Said by the Ceo of Comcast, Brian Roberts?

Brian Roberts, the CEO of Comcast said “Our results at NBCUniversal continue to be driven by the ongoing recovery at our domestic Theme Parks, as well as the success of our linear and streaming Media platforms. At Sky, our UK business maintained its momentum, delivering healthy growth in revenue, EBITDA, and customer relationships.” 

“Going forward, I am excited about the opportunity to continue to invest in our global technology platform and other businesses while returning more capital to shareholders,” he added further.

“This strategy is reflected in our most recent product launches — XClass TV in the U.S. and Sky Glass in Europe — as well as the $2.7 billion we returned to shareholders through a combination of share repurchases and dividend payments.”

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What Has Been Claimed by NBC Universal’s Ceo Jeff Shell?

Jeff Shell, the CEO of NBC Universal said “Everything on Peacock is heading in the right direction, and there is nothing from a trajectory perspective that is any different from what it was last quarter.” He further added, “All metrics are pointed up: our usage continues to be great, our mix of users.”

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